12 INSIGHTS TO MOVE

BEYOND COAL
TOWARDS
NET-ZERO H2
1 COAL PHASE-OUT IS KEY TO COAL PHASED OUT
EU/OECD COUNTRIES

2030
ACHIEVING THE PARIS AGREEMENT
2015
The 2015 Paris Agreement sets a clear goal to keep the global temperature rise to well below
2°C, pursuing efforts to limit it to 1.5°C. To meet this goal, carbon emissions must be reduced
to net-zero by 2050. COAL PHASED OUT
NON-OECD ASIA

2037
Coal is the most carbon-intensive fossil fuel used in power generation. Nearly a third of
global energy-related CO2 emissions come from the coal sector. 1 To limit warming to 1.5°C,
coal power should have peaked in 2020. Now, it is critical to completely phase out coal by
2030 in the EU/OECD, by 2037 in non-OECD Asia, and by 2040 in the rest of the world. 2

Climate change is not the only driver. Alternatives to coal, oil and gas are becoming cheaper.
Renewables are cleaner, improve air quality and help create new jobs. As a result, coal is no
longer considered a secure investment.

Countries urgently need to deliver plans for the global and local phase-out of coal, and to
facilitate a just transition. Oil and gas will have to follow coal in the coming decades, so using COAL PHASED OUT
them as transition fuels creates a high risk of stranded assets.
WORLDWIDE

António Guterres
Secretary-General of the United Nations
2040 H2

“Stop building new coal plants by 2020.

We need a green economy not a grey economy.”
 Cost tipping points: Renewables increasingly
displace fossils

2 RENEWABLES + STORAGE CAN Cost ($/MWh)

300 New renewables

cheaper than
New dispatchable
renewables cheaper

REPLACE COAL AT LOWER COSTS

than existing fossils
new fossils
250
New renewables New dispatchable
cheaper than renewables*
200
existing fossils cheaper than new
Renewable energy costs have plummeted over the past 10 years due to improvements in fossils
product design, manufacturing efficiency and capacity, economies of scale, and policies such 150
as tax credits, feed-in tariffs, and renewable portfolio standards. As a result, the levelised
cost of energy (LCOE) of new renewables has become cost-competitive with, and sometimes 100 1 3
cheaper than, traditional fossil fuel power sources globally and across most regions. 2 4
50
In 2019, more than half of utility scale renewable capacity additions achieved power costs
lower than the cheapest new coal plant. Competitive auctions for new capacity continue to 0
2010 2015 2020 2025 2030 2035
result in record-breaking renewable bids beating fossil fuel prices. 3

The decline in renewable and storage* prices is expected to continue. 4 Improved digitalisation Renewable energy costs
and energy efficiency are helping to address the intermittency of renewables and modernise declined rapidly (2010-2019) Fossil Fuel LCOE
the energy system. To ensure a just transition, countries should stay ahead of the curve and Fossil Fuel Operating Cost
manage the risks of stranded assets (e.g. coal power plants to the value of USD 600 bn risk
becoming stranded globally 5 ), fiscal instability, and job losses. 82% 47% 39% 29% Renewable LCOE
SOLAR CONCENTRATING ONSHORE OFFSHORE Renewable plus Battery LCOE
PHOTOVOLTAICS SOLAR POWER WIND WIND
*Dispatchable renewables =
*In gas-importing regions, like Europe, China and Japan, for example, the cheapest new- renewables + storage can supply
build peaking technology is battery storage. 6 demand on request.

Source: Own graph based on Carbon Tracker, 2019 and IRENA, 2020
 Share of renewables (incl. large hydro) in power generation
in the G20 (2019)

3 RENEWABLES ARE ALREADY 100%

1,521%
1,600%

APPROACHING 30% OF POWER

% share renewable energy in power generation 2019

158%

GENERATION IN THE G20 80% 140%

In 2019, low-carbon power generation – including nuclear, hydro, wind, solar, biomass and
60% 107% 100%

% change 2014-2019
geothermal – matched global coal power for the first time. 7 Renewables alone accounted for
almost 27% of gross power generation in the G20 in 2019, compared to 22% in 2014 and 19%
in 2010. 8 This growth has primarily been driven by new wind and solar installations. 85%
77%
The share of renewables in power generation increased in 19 of the G20 countries in 2019 40% 60%
and is projected to increase in all 20 countries in 2020, contributing 28% of power generation
overall. This progression demonstrates the resilience, particularly in times of the Covid-19
45% 48%
crisis, and potential of the industry. It is a clear sign of climate policies and economic factors
37%
at work in G20 countries. 30%
20% 27% 20%
21% 23%
Policies to increase renewable electricity generation exist in 16 of the G20 members. Even 16% 19% 20%
14% 15%
in Australia, Canada, Mexico and the USA, which have no or very weak national policies, 8% 8%
3% 3% 3%
the share of renewables in electricity generation is increasing due to market forces and the -5%
commitment of citizens, regions and industry. Given the net-zero emissions announcements 0% -20%
and updated 2030 climate targets, higher renewable energy targets and stronger policies
G20

Non-
OECD
OECD
are likely to emerge.
ITA ARG CAN MEX IDN RUS BRA CHN EU G20 FRA IND AUS USA JPN GER TUR UK KOR ZAF SAU

Source: Climate Transparency, 2020 based on Enerdata, 2020

 G20 coal phase-out policy rating

4 LEADING GOVERNMENTS AND

FINANCIAL INSTITUTIONS ARE
PLANNING FOR A COAL PHASE-OUT

N/A
N/A

United Kingdom
Saudi Arabia

South Korea
Through retirement commitments and phase-out policies, 36% of the OECD’s total coal

South Arica
Argentina

Indonesia
Germany
Australia
capacity has been scheduled to close by 2030. 9 This shift has been supported by the Powering

Canada

Mexico
France

Turkey
Russia
Japan
China
Brazil

USA
India
Past Coal Alliance (PPCA), which comprises 34 countries, 35 sub-national governments and

Italy
EU
44 organisations.

In the G20, Canada, France, Italy and the UK have set 1.5°C compatible coal phase-out targets Source: Climate Transparency, 2020
(by 2030 or earlier), Germany follows with a phase-out date of 2038.* To reach the new EU
climate target (announced in 2020) all EU countries must phase out coal by 2030. 10 A number Low Medium High Front-runner
of coal-reliant countries without existing coal phase-out plans, including Japan, South Korea, No target or policy in Some policies in place Policies + coal Policies + coal phase-out date before 2030
place for reducing coal for reducing coal
South Africa, and China, recently made net-zero emissions by mid-century commitments. This phase-out decided (OECD and EU28) or 2040 (rest of the world)
has refocused national debates on how to manage the coal phase-out and a just transition.

In addition, over 130 financial institutions created or strengthened their policies to divest from,
ban, or restrict the financing of thermal coal power and, partly, mining. This includes top global
banks, some of the biggest global insurers, public development finance institutions, export Yoshihide Suga Moon Jae-in
Prime Minister, Japan President, South Korea
credit agencies and MDBs. 11 In addition, companies including General Electric, Mitsubishi,
Siemens, Samsung and Toshiba have announced that they will stop building new coal plants. Japan’s pledge to reduce emissions to “By replacing coal power generation with
net-zero by 2050 “will radically change renewable energy, we will create new
the policy for coal-fired power”. markets and industries and create jobs”.
*Many of these countries are replacing coal power with gas, calling into question the 1.5°C October 2020 October 2020
compatibility of their coal phase-out strategies.
 Global planned and cancelled coal capacity, 2015-2020 (GW)
1,200 GW

5 COAL POWER IS DECLINING 1,000 GW

GLOBALLY AS INVESTORS WAKE UP 800 GW

526 PLANNED
COAL CAPACITY

TO FINANCIAL RISKS 600 GW

243
400 GW 419
Coal power is becoming more difficult and expensive to finance – a trend that will continue 175
as carbon pricing takes effect alongside shifting economics, air pollution legislation and 131 98 114
200 GW
236 167
enforcement, and coal phase-out policies in key countries. As coal power moratoria are put 138 124 124
in place, upstream coal supply and trade disruptions can be expected.
223
130 116 86 82 93
0
The effect of these trends is already evident: Between 2015 and 2020, cancelled coal
capacity additions more than doubled while the project pipeline of additional capacity has 616
shrunk by almost 75%. 12 The slight increase in permitted capacity additions in 2020 is most 885
-500 GW
likely a consequence of government support to coal as part of Covid-19 responses, including 1066 1272
at least 40.8 GW on new coal approvals in China. 2015 1528 1580
Global coal power generation decreased by around 3% in 2019. This constituted the first -1,000 GW 2016
drop after three years of growth. 13 The decline was due to decreased demand from the
2017
power sector, with significant coal power decreases in the EU (26%) and the US (14%) due to
structural shifts in the power market, driven by economic factors and, in the case of the EU, 2018
-1,500 GW
policy. 14
CANCELLED 2019
2020
Due to the Covid-19 crises and reduced energy demand, global coal demand is expected to COAL CAPACITY
have fallen by about 7% in 2020. This would constitute the largest drop since World War II, -2,000 GW
with coal use declining in every region worldwide. 15 Announced Pre-Permit Permitted Cancelled (since 2010) Source: Global Coal Plant Tracker, 2020

Note: Data only includes information for the first half of 2020 based on the Global Coal Plant Tracker July 2020 update.
 Share of coal in power generation (2019) and 5-year trend
(2014-2019) for top G20 countries
6 DESPITE CLIMATE AND FINANCIAL South Africa India China Indonesia Australia South Korea

RISKS, SOME G20 COUNTRIES 88% 71% 65% 63% 57% 42%

CONTINUE TO ADD COAL POWER -1% 3% 3% -8% 0% 1%

CAPACITY Turkey Japan Germany USA Russia EU

37% 33% 29% 25% 17% 15%

8% -2% -9% -9% 3% -10%

The G20 is responsible for 85% of global coal consumption. G20 countries are home to the
biggest coal fleets worldwide, and 40% of the power generated across the G20 still comes
from coal. 16 Current and planned coal capacity for top G20 countries
China accounts for half of global coal consumption and around 50% of global coal power 1,600 80 GW
capacity. 17 Despite overcapacity and low utilisation rates (load factor of 49% in 2019 18), China
continues to build more coal plants. In 2020, China eased restrictions for future domestic
coal plant construction and approved an additional 40.8 GW. 1,200 60 GW

India, Indonesia, Japan, South Africa, South Korea, and Turkey as well as the EU countries,
Greece and Poland, are also currently constructing new plants. Turkey has the highest 800 40 GW

planned capacity worldwide in comparison to the country’s existing capacity. It is, however,
likely that planned capacity will not be built due to financial, economic and political trends.
400 20 GW

Building new coal power plants, even where they may replace less efficient plants, risks
locking countries into costly carbon-intensive futures with negative economic implications
0 0
and environmental externalities. China India USA EU Japan Russia Germany South South Indonesia Australia Turkey
Africa Korea
Operating capacity Capacity under constution Project pipeline: capacities announced, pre-permitted and permitted

Source: Enerdata, 2020; Global Coal Plant Tracker, July 2020.

 G20 public support to coal production (domestic and overseas)
8

SOME G20 COUNTRIES CONTINUE

7

7 6
7.2
6.4
TO DIRECT PUBLIC RESOURCES TO

USD Billion
5
5.3
4 4.7
COAL AT HOME AND ABROAD 3

G20 governments spent USD 12.63 bn on coal production on average annually between 1
1.2 1.5*
2017-2019. 19 This includes fiscal support, public finance, and state-owned enterprise (SOE) 0
investment in coal exploration, production (mining), processing and transportation, in addition 2014-2016 annual average 2017-2019 annual average
to coal power generation. The amount would be even higher if support for coal consumption
by industry, transport, households, and other consumers was included. Fiscal support Public finance SOE investment
FISCAL SUPPORT PUBLIC FINANCE SOE INVESTMENT
On average, annual G20 government support decreased slightly by USD 1.09 bn in 2017-
2019, compared to 2014-2016. Nevertheless, the reduction of public support to coal needs to Provision of budgetary Provision of grants, equity, loans, guarantees Investment of state-owned
be accelerated to meet national and global net-zero goals in line with the Paris Agreement. transfers (e.g. subsidies and insurance by bilateral public finance enterprises in coal and coal-
Continued funding is artificially extending the life of the coal industry, to the detriment of to coal production) and institutions controlled by governments, including fired power production
foregone revenue through export credit agencies, national development
climate and sustainable development goals.
tax breaks banks and development finance institutions
(excl. multilateral development banks) Objective: Providing
Objective: Setting price infrastructure, goods and
signals to influence Objective: Driving private investment services, often below
consumer behaviour by de-risking finance market value

*2017-2018 annual average

Note: G20 fiscal support data excludes Saudi Arabia, and for Turkey and the UK it only includes 2017 data.
Sources: OECD-IEA Fossil Fuel Support database, 2020; Oil Change International Shift the Subsidies database, 2020; ODI, 2020
8 ECAS IN JAPAN, CHINA AND KOREA ECA fossil fuel finance for top G20 countries, annual
average 2013-2015 and 2016-2018
ACCOUNT FOR 94% OF G20 ECA
COAL SUPPORT, BUT INCREASINGLY
FACE RESTRICTIONS
12

Oil and Gas

Mixed Fossil
Export credit agencies (ECAs) in G20 countries provide public financial backing for risky Coal
projects overseas, to support their national industry.
9
Despite the 2015 OECD Agreement restricting ECA coal power finance,* several G20 countries
have continued to support coal projects. Between 2016 and 2018, G20 countries provided
at least USD 7.1 bn annually to coal projects** 20 through ECAs, an increase from USD 5.7 bn

USD Billions
between 2013 and 2015. By comparison, G20 ECA support for renewables between 2016
and 2018 was only USD 2.7 bn annually.
6
Japan, China, and South Korea account for the highest levels of G20 ECA coal support,
providing USD 3.6 bn, 2.3 bn, and 0.8 bn, respectively. A decrease in support is expected,
given that all three countries recently set mid-century net-zero emissions targets. Japan and
South Korea also announced restrictions for ECA coal finance in 2020. 21

A review of the OECD Agreement was due in 2020, and discussions are on-going. To reflect 3
the Paris Agreement, this review should 1) tighten restrictions to exclude investments for all
new coal power plants and modernisation of existing plants unless combined with a Paris
compatible decommissioning date, and 2) expand restrictions to cover all aspects of the coal
supply-chain as well as the full range of financial products ECAs offer.

0
Canada Japan China Korea Italy UK Russia Germany France India South Africa Mexico
*Formally called the Coal-Fired Electricity Generation Sector Understanding (CFSU)
**Due to a lack of transparency, these finance figures are likely to be significant underestimates. Source: Oil Change International Shift the Subsidies Database, 2020
 MOST G20 COVID-19 RECOVERY G20 countries supporting the coal sector as part of their
9
Covid-19 recovery packages
PACKAGES INVEST IN THE PAST: Policies supporting coal

SUPPORTING THE COAL AND OTHER

0.5 mn 1 policy – Reactivation of Rio Turbio coal plant
Argentina 1.5
3 policies – Provision of funding for Vales Point
coal-fired power plant; Increase of coal extraction
Australia

FOSSIL FUEL SECTORS

1.9 0.6 from the Whitehaven Vickery Coal Mine by 25%;
Reduction of Mines Safety Levy by 20%
1 policy – Reduction of environmental protections
Canada 15.4 14.6
to prevent coal mining in the Foothills and Rockies
3 policies – Approval of four coal mine projects in
China 27.4 4.3 1.05 Xinjiang, combined capacity above 5 Mtpa;
Green Covid-19 recovery programmes could be used to advance the transition to low-carbon Accelerated permitting of coal-fired power plants;
Pingliang Wuju Coal Mine Project Approval
economies and societies. To date, this opportunity has been missed or underutilised by G20
India 1.3 2.1 15.1
11 policies – Actions include a loan to SVJN’s power
countries, with 52% of total G20 stimulus support in the energy sector being directed towards project in Bihar; investment in mining technology,
fossil fuels compared to 38% towards clean energy. 22 coal transportation infrastructure, heavy earth
South Korea 1.3 2.4 2.5
moving equipment, production of methanol from
coal; rebates on coal extraction
Ten G20 countries are directing stimulus support to the domestic coal sector, with a total of
South Africa 0.6 1 policy – Bailout of Doosan Heavy Industries &
USD 23.6 bn (10% of stimulus support to fossil fuels). Financial support to the coal sector has Construction Co
been particular high in China, India, and South Korea. During the Covid-19 crisis, Germany 1 policy – New amendments to the Mineral
confirmed compensation payments for two major utilities that will shut down eight lignite Turkey 11.7 0.05 Resources Development Act which undermine the
right of affected communities to oppose coal mining
power plants in accordance with the country’s coal phase-out plan. 0 5 10 15 20 25 30 35
2 policies – Support for underground mines; full
Billion USD
payment of underground coal miners despite
Instead of extending the life of coal, governments could green their Covid-19 recovery reduced working hours/leave due to production halt
packages to protect workers, communities, and the climate. Adding conditionalities to bailouts, 1 policy – Compensation package for utilities
Germany 28.2 21.3 4.8 operating lignite power stations as part of national
investing in sustainable infrastructure as well as education, research, and development, and
coal phase-out
reinforcing climate-friendly policies are a first step. Industrialised countries also need to 1 policy – Support for coal products innovation
United States 27.3 72.2 0.1
support developing countries in recovering from the crisis. centres

0 20 40 60 80 100
Billion USD

Clean energy Coal Other fossil fuels Source: Energy Policy Tracker, January 2021

Notes: Some countries had already allocated expenditure to the coal sector prior to Covid-19, e.g. Germany.
Many policies supporting coal as part of the G20 countries’ responses to Covid-19 remain unquantified.
 SOME G20 COVID-19 RECOVERY Hydrogen strategies of G20 countries
10
PACKAGES INVEST IN THE FUTURE: Japan:
Basic Hydrogen Strategy
MODERNISING ENERGY SYSTEMS
(December 2017)
Green Growth Strategy
AND PROMOTING GREEN HYDROGEN
(December 2020)
Target (consumption
volume): Up to 3 million
tonnes of hydrogen a
Of the G20 members, 18 have included some support for green measures in their recovery year and price reduction
plans, including important investments for low-carbon solutions in the transport and to USD 3/kg by 2030
power sector.
Plans to become a
In the future, energy systems will need to be more resilient, efficient, digital, and sustainable. “hydrogen society”
H2
using hydrogen for
This will require new approaches to managing power demand, grid flexibility and meeting
energy end-use needs. power generation,
transportation and
Green hydrogen is a promising means for converting renewable energy into fuel that can industry
be used for power generation at any time, in industry, heating and transport.
In 2020, the European Union, France and Germany launched hydrogen strategies with
a focus on green hydrogen and dedicated a proportion of recovery expenditure to the South Korea:
development of green hydrogen production and markets at home and abroad. Hydrogen Economy Roadmap
(January 2019)
Other G20 countries, including Japan (2017), South Korea (2019), and Australia (2019),
Target (end use): 15
also have hydrogen strategies in place, though the focus is not yet exclusively on green
GW fuel cell for power
hydrogen. Nevertheless, the development of hydrogen infrastructure and markets can be
generation by 2040
used as a basis for further development of green hydrogen in these and other countries. 23 15 GW
+ 6.2 million fuel cell
electric vehicles, 1,200
fuelling stations, 60,000
hydrogen busses
Australia:
National Hydrogen Strategy
EU:
Hydrogen Strategy for a Climate-
(November 2019) neutral Europe (July 2020)
Target: to become Target (production
world’s third largest capacity): 40 GW EU
hydrogen exporter by electrolyser capacity
2030 40 GW for green hydrogen by
2030
H2 Emphasis on “clean”
(CCS) not “green Aim to decarbonise
hydrogen” hydrogen production
Germany:
National Hydrogen Strategy for
Germany (June 2020)
France:
Target (production
National Hydrogen Strategy
capacity): 5 GW
(September 2020)
generation facilities by
5 GW 2030 (plus imports) Target (production
capacity): 6.5 GW of
Aim to decarbonise
capacity from non-
hydrogen production 6.5 GW
fossil resources by
and plan to construct
2030
required renewable
generation supply Aim to decarbonise
hydrogen production
Plans for hydrogen
development in Aim to create 50,000
partner countries, to 150,000 direct and
such as Morocco indirect jobs
 GREEN HYDROGEN IS A PROMISING The hydrogen economy
11 How low-carbon hydrogen could be made, moved and used

NET-ZERO INDUSTRY WHERE G20 Solar Wind Nuclear Coal Gas

COUNTRIES CAN TAKE THE LEAD 3 Hydrogen can be used for

transport, industry, electricity
Biogas generation, fertiliser or heating
Oil
Industry
Green hydrogen can play a critical role in moving to net-zero, especially in hard to abate Electricity
generation
sectors such as industry (steel or chemicals) and transport, and also by providing a zero-
emission alternative to natural gas. Indeed, many see the potential for a ‘hydrogen economy’ Electrolysis
being the main hub of the future energy system.

Like the fossil fuel driven development before it, for hydrogen to become affordable it is 1 Steam reformation
and cracking
H2
imperative that hydrogen infrastructure is developed (and fast) to realise economies of scale. Hydrogen can
Innovation will also be required, to improve production and storage options. International be made from END USE
coordination will make this process less risky and costs will be distributed. Leading economies
in the G20 have a critical role to play, and the recent wave of hydrogen policies signals that
electricity, bioenergy
or fossil fuels with
PRODUCTION
HYDROGEN
many are stepping up to the challenge. carbon capture
Heating
Hydrogen can be made with any power source, captured as a by-product from certain SUPPLY
& DISTRIBUTION
industry, and also occurs naturally. Colours are used to differentiate power source, process,
and whether carbon capture and storage (CCS) are used in production. Green hydrogen
(produced with renewable energy) is the most promising option for transitioning to net-zero,
2 Hydrogen can be stored, Fertiliser Transport
followed by blue hydrogen (produced with gas, using CCS). converted to synthetic fuels
or transported by truck, ship
Synthetic Storage Export
fuels
or pipeline

Source: Own infographic based on Carbon Brief, 2020

 Opportunities for G20 countries to increase international
action to move beyond coal:
12 NOW IS THE TIME TO SCALE-UP
INTERNATIONAL COOPERATION Drive a “green recovery” agenda
within the G7 and G20 in 2021

TO MOVE FROM COAL TOWARDS

NET-ZERO H2
Use the Powering Raise ambition in the
Past Coal Alliance PPCA run-up to COP26
To reach net-zero by the mid-century, countries need to rapidly phase out coal (by 2030
in EU/OECD, 2037 in non-OECD Asia, and 2040 in the rest of the world). The net-zero
(PPCA) and other
forums for joint
MOVE COP26 by enhancing 2030
emission targets and
targets announced by major G20 countries indicate a turning point for international learning on how to BEYOND presenting fossil-free
climate politics, and there is hope that the US, under new leadership, will contribute to
more ambitious action.
overcome technical, political
and social challenges, COAL long-term strategies,
both in line with net-zero
including facilitating a just announcements
Several opportunities exist for G20 countries to increase international action to move transition, drawing on first
beyond coal in 2021 and beyond: 1) driving a green recovery agenda within the G7 experiences in e.g. Canada,
and the G20, 2) aligning 2030 climate targets and long-term strategies with net-zero Germany and South Africa
announcements, 3) ending international coal financing and revising the OECD Coal-Fired $
Electricity Generation Sector Understanding, 4) scaling up renewables and leading the
development of a global (green) hydrogen market, and 5) enhancing joint learning on
how to overcome barriers when phasing out coal.
Scale up renewables and lead the development of a End international coal financing and revise the OECD
global (green) hydrogen market by developing green Coal-Fired Electricity Generation Sector Understanding
hydrogen strategies and bringing down the production excluding investments for all new coal power plants and
and transport costs covering all aspects of the coal supply chain and the full
range of financial products ECAs offer to coal projects
ENDNOTES
1 IEA. (2019). Global Energy & CO2 Status Report 2019. https://www.iea.
org/reports/global-energy-co2-status-report-2019/emissions
2 Yanguas Parra, P. et al. (2019). Global and regional coal phase-out
requirements of the Paris Agreement: Insights from the IPCC Special
Report on 1.5°C. https://climateanalytics.org/media/report_coal_
phase_out_2019.pdf
3 IRENA. (2020). How falling costs make renewables a cost-effective
investment. https://www.irena.org/newsroom/articles/2020/Jun/How-
Falling-Costs-Make-Renewables-a-Cost-effective-Investment
4 Carbon Tracker. (2019). The trillion dollar energy windfall. https://
carbontracker.org/reports/the-trillion-dollar-energy-windfall/
5 Carbon Tracker. (2020). How to waste over half a trillion dollars: The
economic implications of deflationary renewable energy for coal
power investments. https://carbontracker.org/reports/how-to-waste-
over-half-a-trillion-dollars/
6 BloombergNEF. (2020). Scale-up of solar and wind puts existing coal,
gas at risk. https://about.bnef.com/blog/scale-up-of-solar-and-wind-
puts-existing-coal-gas-at-risk/#_ftn1
7 Evans, S. (2020). In-depth: BP data reveals clean electricity matched
coal for the first time in 2019. https://www.carbonbrief.org/in-depth-
bp-data-reveals-clean-electricity-matched-coal-for-the-first-time-
in-2019
8 Climate Transparency. (2020). Climate Transparency Report.
Comparing G20 climate action and responses to the Covid-19 crisis.
https://www.climate-transparency.org/wp-content/uploads/2020/11/
Climate-Transparency-Report-2020.pdf
9 Roberts, L. et al. (2020). Global status of coal power. Pre-Covid-19
baseline analysis. https://www.e3g.org/publications/oecd-eu28-lead-
the-way-on-global-coal-transition/
10 Amelang, S. et al. (2020). Europe’s 55% emissions cut by 2030:
Proposed target means even faster coal exit. https://energypost.eu/
europes-55-emissions-cut-by-2030-proposed-target-means-even-
faster-coal-exit/
ABOUT
11 IEEFA. (2020). Over 100 and counting: Financial institutions are
restricting thermal coal funding. https://ieefa.org/finance-exiting-
This booklet has been produced as part of the event series “Beyond Coal – Towards
coal/#1596145653442-dcc5e5f3-9aef1269-34c9 Net-Zero Emissions” in Japan, South Korea and China in the run up to COP26.
12 Global Coal Plant Tracker. (2020). Total Coal Power Capacity by
Status and Year. GCPT database beta version. Authors and Acknowledgments
13 IEA. (2020). Coal. https://www.iea.org/fuels-and-technologies/coal
Authors: Hannah Schindler and Catrina Godinho, Humboldt-Viadrina Governance Platform gGmbH hosting
14 Enerdata. (2020). World Energy Statistics. https://www.enerdata.net/
the International Secretariat of Climate Transparency in cooperation with Climate Analytics gGmbH.
15 IEA. (2020). World Energy Outlook 2020. https://webstore.iea.org/
download/summary/4153?fileName=1.English-Summary-WEO2020. Climate Transparency is a global partnership of 14 research organisations and NGOs in the majority of the G20
pdf
countries. Our mission is to encourage ambitious climate action in G20 countries: we inform policy makers and
16 See endnote 8.
stimulate national debate. Our Climate Transparency Report is the world’s most comprehensive annual review
17 Global Coal Plant Tracker. (2020). Coal plants by country – July 2020.
of G20 climate action: based on 100 indicators, we provide concise and comparable information on mitigation,
https://endcoal.org/global-coal-plant-tracker/
adaptation and finance.
18 EMBER. (2020). Global Electricity Review. https://ember-climate.org/
wp-content/uploads/2020/03/Ember-2020GlobalElectricityReview- The information in this booklet is gathered by the Secretariat from a range of sources and does not necessarily
Web.pdf
represent the opinion of Climate Transparency partners.
19 Geddes, A. (2020). Doubling back and doubling down. https://www.
iisd.org/system/files/2020-11/g20-scorecard-report.pdf The authors would like to express gratitude to the following contributors for their expert comments, input
20 DeAngelis, K. and Tucker, B. (2020). Adding fuel to the fire: and guidance: Kentaro Tamura (Institute for Global Environmental Strategies), Joojin Kim and Jeehye Park
Export credit agencies and fossil fuel finance. http://priceofoil.
(Solutions For Our Climate), Angela Picciariello (Overseas Development Institute), Bronwen Tucker (Oil Change
org/2020/01/30/g20-ecas-2020/
International), Jesse Burton (E3G), Raffael Barth and Gerd Leipold (Humboldt-Viadrina Governance Platform)
21 Despite stricter conditions for supporting overseas coal-fired power
plant projects, the Japan Bank for International Cooperation (JBIC) Design: Design for development (www.d4d.co.za)
made a decision to finance the 1.2 GW Vung Ang 2 project, a long-
planned coal power plant in Vietnam, in December 2020. This is January 2021
co-financed with others including the Export-Import Bank of Korea.
https://www.jbic.go.jp/en/information/press/press-2020/1229-014147.
html
Supported by
22 Energy Policy Tracker. (2021). Track public money for energy in
recovery packages. https://www.energypolicytracker.org/
23 Carbon Brief. (2020). In-depth Q&A: Does the world need hydrogen
to solve climate change? https://www.carbonbrief.org/in-depth-qa-
does-the-world-need-hydrogen-to-solve-climate-change
www.climate-transparency.org
@ClimateT_G20